7 Measures you should know to prevent online fraud

Online payments have made it easy for us to make a transaction anytime from anywhere in just a few clicks. But one wrong click can land you in big financial trouble. Whether you are regular with online banking or feel sceptical about it, some safety measures while making a digital transaction are a must.

Basic awareness about online scams can help you avert a financial tragedy. Here are the seven most effective ways to protect yourself from online fraud and safeguard your digital identity.

1. Use verified apps only

Mobile apps have changed the way we shop and transact. Every time you install an app on your device, make sure you are using a verified app. Whether it’s a financial app or a new game, download only from official play stores like Google Play Store, Windows App Store or Apple App Store.

2. Browse on authorised websites only

Beware of imposter websites that may look professional or carry the same domain name as the original one in the URL. Look for “https://” before “www” and the lock icon on the address bar of your browser.

3. Use secure connections only

The urge to use free WiFi at a cafe, hotel lounge or airport can also lead to financial fraud. Avoid using public hotspots for making a financial transaction. Public networks are more prone to the risk of data theft since their encryption can be cracked easily to access your account’s crucial information.

4. Be vigilant while using card

Always make a card payment in front of your eyes. Be sure that the POS machine is 100 percent genuine. There are dozens of stories about cards being cloned by skimmers since the card was out of sight while the transaction was being done. Don’t let anyone steal your hard-earned money because of your negligence.

5. Don’t compromise on security software for phones/computers

Everyone wants their payments to be secure but how many of you pay attention to your mobile and computer’s security software, web browser and operating system. Update your PC/laptop and mobile security to prevent online mishappenings. Also, always set up strong passwords with a combination of special characters, letters, numbers and upper and lowercase. Don’t forget to change the passwords on a regular…